Global Jet Capital Expands Horizons With GE Acquisition

AIN Online tells more about the purchasing agreement between Global Jet Captial and GE Capital:

Business jet financing group Global Jet Capital last month agreed to purchase the aircraft lease and loan portfolio of GE Capital Corporate Aircraft in the Americas, representing approximately $2.5 billion of net assets. The deal, for which terms were not disclosed, is expected to close by year-end. As part of this transaction, the GE Capital Corporate Aircraft team will join the Global Jet Capitalorganization.

“We are investing heavily in expanding the business both organically and through strategic acquisitions, such as this one with GE,” said Global Jet Capital executive director Shawn Vick. “This is a remarkable portfolio of corporate aviation assets, and this investment underlines our confidence in the long-term growth prospects of the large-cabin, long-range private jet market. The price point of these aircraft range between $25 and $75 million, on average, and corporate users and high-net-worth individuals will seek competitive financing solutions rather than allocate their own cash resources, which are better invested in their ownbusinesses.”